Two Md. towns make magazine's list of U.S.' 250 richest

REAL ESTATE WATCH

April 28, 2002

Worth magazine rated Potomac and Chevy Chase 213th and 238th, respectively, on its seventh annual list of the 250 richest towns in the country based on real estate prices.

Worth compiled the list in its May issue based on "thousands of actual sales transactions made in the past two years, 2000 and 2001." The magazine ranked towns based on median sales pricec of single-family homes.

Potomac had a median home sales price of $569,500, and Chevy Chase had a median of $525,000.

Dana Point, Calif., was No. 250 with a median price of $510,000.

Although fewer properties changed hands in America's richest towns last year, prices continued to climb, according to the magazine. The median home price for the lowest-ranked town increased by 11 percent over the price on last year's list and 50 percent since 1999's list.

Jupiter Island, Fla., population 620, ranked first for the fourth year in a row with a median home price of $3.9 million.

California has the most towns on the list with 82; followed by New York, 52; New Jersey, 19; Florida, 14; and Illinois, 14.

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